Dukascopy - Analytics

    Dukascopy

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    EUR/JPY takes a shot at reclaiming 129.00

    © Dukascopy Bank SA
    "The next move by the Fed is still expected to be a hike, while the odds of further easing by the ECB and BOJ have risen."
    - Australia & New Zealand Banking Group Ltd. (based on Bloomberg) 


    Pair's Outlook 
    The European currency extended its gains for the fourth consecutive time yesterday, with the upper border getting violated. As the monthly S1 and the 20-day SMA are now providing immediate support around 128.50, the given cross is expected to edge higher. The pair is likely to fail to return within its three-week consolidation trend between the monthly S1 from the upside and the monthly S2 from the downside. However, technical indicators are unable to confirm the bullish scenario, as they retain mixed signals. 

    Traders' Sentiment  
    Traders' sentiment remains unchanged, with 51% of all open positions still long. The share of orders to purchase the Euro added 18% points today. The commands now take up 64% of the market.
    © Dukascopy Bank SA

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